USDCAD recently broke out of an inverse head and shoulders pattern on its 4-hour time frame and looks ready for an uptrend. Price could still pull back to a new rising trend line forming before gaining bullish traction. Applying the Fib tool on the latest...
USD The US dollar lost ground to its peers as risk appetite appeared to return to the markets. Bond yields ticked lower while equities and commodities chalked up gains, leaving the safe-haven currency to decline. Up ahead, FOMC members Dudley, Williams,...
EURUSD could be in for a selloff as a double top pattern can be seen on its 4-hour time frame. Price has yet to break below the neckline at the 1.2200-1.2250 levels before confirming the potential downtrend. The chart pattern is approximately...
USD The dollar was able to score another winning day thanks to higher yields during the debt auction. A bit of risk aversion was also present as commodities and stocks closed in the red. Flash manufacturing and services PMI are due from the US today,...
EURAUD looks ready for a selloff as price is forming a double top reversal pattern on its 4-hour time frame. The pair has yet to break below the neckline at the 1.5650 minor psychological mark before confirming the downtrend. The chart pattern...
USD The dollar was able to pocket a few gains even as US markets were closed for the President's Day holiday. Markets will reopen today and another round of risk-taking could prompt weakness for the safe-haven currency. There are no major reports...
GBPUSD appears to be starting a new trend lower as price is creating a descending channel on its 4-hour time frame. Price is just testing the resistance, though, and might be due for a move back to support. However, the 100 SMA is still above the...
USD The US dollar was able to rebound against most of its peers on Friday as profit-taking happened before the long weekend. US banks are closed in observance of President's Day today, which means that liquidity is low and volatility could tick...
USDJPY recently broke below a major support zone, confirming that a downtrend is underway. Price appears to be finding support at current levels, though, so a pullback is also possible. Stochastic is on its way up to indicate that bears are taking a...
USD The dollar had another day in the red as equities advanced but traders remained wary of fiscal risks. Data turned out mixed but positive PPI readings failed to draw support for the currency. The Empire State manufacturing index posted a downside...
